The green data center market is forecast to grow at a CAGR of 27.2 percent to 2019, according to a recent report by RnR Market Research.
The largest share of total green data center in 2014 will be taken by the banking, financial services and insurance verticals, and this status quo will be maintained for the next five years. The findings of the report also predict the year over year growth rate of some of these verticals to be on the higher side throughout the forecasted period.
Telecom and IT verticals are also switching to green data centers and the growth in the telecom and IT industry is said to be driven by the growth in the data center market in the Asia-Pacific region.
The server solutions market is expected to take a major portion of the total green data center solutions market pie, but revenue will also come from other areas such as cooling, power and networking.
Similar to any other business, the green data center market has to face certain challenges such as an increasing cost of electricity and lack of knowledge about the benefits of green data center among its potential customers. RnR Market Research expects some of these challenges to reduce in the coming years.
Designed, managed, and operated on green computing principles, green data centers are sought after by several industry verticals as they are easy on the environment and offer financial benefits to businesses.
A green footprint is what industries look for as they have to deal with many rules and regulations that ask them to reduce their overall carbon footprint or pay heavy fines.
Green data center uses less energy and space but provides all the features and full capability of a traditional data center. These types of centers make efficient use of power so that the facility runs cost-effectively.
Edited by Rory J. Thompson